Pin Bar Setup:
The pin bar is a staple of the way I trade the Forex market. It has a very high accuracy rate in trending markets and especially when occurring at a confluent level. Pin bars occurring at important support and resistance levels are generally very accurate setups. Pin bars can be taken counter trend as well, as long as they are very well defined and protrude significantly from the surrounding price bars, indicating a strong rejection has occurred, and preferably only on the daily chart time frame.
Fakey Setup:
The fakey trading strategy is another bread and butter price action setup. It indicates rejection of an important level within the market. Often times the market will appear to be headed one direction and then reverse, sucking all the amateurs in as the professionals push price back in the opposite direction. The fakey setup can set off some pretty big moves in the Forex market.
Inside Bar Setup:
The inside bar is a great trend continuation signal, but it can also be used as a turning point signal. However, the first way to learn how to trade the inside bar strategy is as a continuation signal.
The pin bar is a staple of the way I trade the Forex market. It has a very high accuracy rate in trending markets and especially when occurring at a confluent level. Pin bars occurring at important support and resistance levels are generally very accurate setups. Pin bars can be taken counter trend as well, as long as they are very well defined and protrude significantly from the surrounding price bars, indicating a strong rejection has occurred, and preferably only on the daily chart time frame.
Fakey Setup:
The fakey trading strategy is another bread and butter price action setup. It indicates rejection of an important level within the market. Often times the market will appear to be headed one direction and then reverse, sucking all the amateurs in as the professionals push price back in the opposite direction. The fakey setup can set off some pretty big moves in the Forex market.
Inside Bar Setup:
The inside bar is a great trend continuation signal, but it can also be used as a turning point signal. However, the first way to learn how to trade the inside bar strategy is as a continuation signal.